Monday, October 26, 2020 / by Vanessa Saunders
Elvis and the New York real estate transfer tax.
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
I hear a lot of odd reasons why people won’t use a Realtor to sell their home. I’ve never heard this one before. I was following up on a For Sale By Owner property recently, to see if they’d sold their house since I contacted them six months ago. The owner indignantly cited a “fact” he heard from his neighbor.
“I understand New York state has now started charging sellers 4% of their price to sell their home. And it goes straight to Cuomo,” he said. “I am not paying you 6% and Cuomo 4%. That’s ten percent of the value of my house!”
This is how urban myths start, how false rumors and misunderstood facts grow into Elvis sightings and conspiracy theories. Let me presume to explain.
First of all, no state taxes, fees or tolls go straight to Governor Cuomo. True, there are lots of taxes, fees and tolls that DO go to the state. As a matter of fa. ...
I hear a lot of odd reasons why people won’t use a Realtor to sell their home. I’ve never heard this one before. I was following up on a For Sale By Owner property recently, to see if they’d sold their house since I contacted them six months ago. The owner indignantly cited a “fact” he heard from his neighbor.
“I understand New York state has now started charging sellers 4% of their price to sell their home. And it goes straight to Cuomo,” he said. “I am not paying you 6% and Cuomo 4%. That’s ten percent of the value of my house!”
This is how urban myths start, how false rumors and misunderstood facts grow into Elvis sightings and conspiracy theories. Let me presume to explain.
First of all, no state taxes, fees or tolls go straight to Governor Cuomo. True, there are lots of taxes, fees and tolls that DO go to the state. As a matter of fa. ...
